ROOT - SDC Stock: The Short-Squeeze Action That Has SmileDirectClub Investors Grinning Today
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SmileDirectClub (NASDAQ:SDC) stock is shining brighter on Monday as retail investors on social media pile into the shares to push them higher.
SmileDirectClub joins a growing list of meme stocks that retail traders love to boost higher before running with the profits. As such, investors will want to be careful so they don’t get left holding them ag when the rally comes to an end.
Of course, this doesn’t mean that there’s no reason to invest in SDC stock. Part of what has investors excited about the shares today could actually be something worth taking a closer look at.
A recent New York Times article highlights that Democrats are pushing to add dental care to Medicare. That would open up the use of SDC and other dental services to the U.S.’s aging population. That’s worth pointing out at it would mark the first time in history that Medicare has included dental coverage.
Even so, there is some opposition that stands in the way of such a change. Dentists aren’t happy about the idea of Medicare including dental coverage. That’s because Medicare will likely pay less than what customers would, which could hurt their profits.
With the recent focus on today’s news, SDC stock is seeing loads of activity. As of this writing, more than 24 million shares of the stock have changed hands. That’s a massive jump from its daily average trading volume of about 6.5 million shares.
SDC stock was up 9.6% as of Monday afternoon.
Investors that want more stock market news are in luck!
We’ve got the latest stock stories for Monday that you need to know about. Among them are Katapult (NASDAQ:KPLT), Globalstar (NYSEAMERICAN:GSAT), and Root Inc. (NASDAQ:ROOT) shares running higher. You can learn all about these matters at the links below!
More Monday Stock Market News
- KPLT Stock: What’s Catapulting Shares of E-Commerce Fintech Katapult Higher Today?
- Globalstar Apple Rumors: The iPhone 13 Chatter That Has GSAT Stock Skyrocketing Today
- ROOT Stock: Why r/WallStreetBets Is Betting on a Big Squeeze for Root
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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